Tally Solutions

The first thing for us to know is that the GSTR 3B return cannot be revised as there are no provisions available in the present day GST law.

UTGST, the short form of Union Territory Goods and Services Tax, is nothing but the GST applicable on the goods and services supply that takes place in any of the five territories of India.

Learn more about Benefits of GST in India. Advatages & Disadvatange of GST in Different Business Sector in India

ITC – 04 under GST is a form which has to be furnished by registered manufacturers, showing the details of inputs or capital goods dispatched or received from a job worker in a particular quarter.

In business, it is quite common to face scenarios where the value of tax turns out to be in decimals. In such cases, the question naturally arises as to how much tax values should be treated.

Under GST, there are 7 specified rates for goods, each of which have been classified under a Schedule in the GST Rates Booklet for Goods.

GST Compensation Cess is a levy which will be applicable in addition to the regular GST taxes (CGST + SGST/UTGST on intrastate supplies and IGST on interstate supplies).

Availing the right ITC will ensure that the working capital of the business is maintained properly, and also help to maintain the credibility of the business.

The GST Council has gone a step further to simplify the lives of businesses across the country by providing a comprehensive GST Rate finder in the CBEC website.

Adherence to these rules and regulations is what constitutes GST compliance. Not being compliant, can be a heavy cost for a business.

An invoice is a key element of the sales process. It is the prime document that serves as a bill for the service/s or product/s your business has provided.

Statement of final accounts or financial accounting is the process of preparing financial statements that companies’ use to show their financial performance and position to people outside the company.